Wellington Management Group LLP Decreases Position in Citigroup Inc. (NYSE:C)

Wellington Management Group LLP cut its stake in Citigroup Inc. (NYSE:C - Free Report) by 12.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 44,482 shares of the company's stock after selling 6,042 shares during the quarter. Wellington Management Group LLP's holdings in Citigroup were worth $3,131,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of C. Brighton Jones LLC increased its stake in shares of Citigroup by 166.9% in the 4th quarter. Brighton Jones LLC now owns 19,990 shares of the company's stock valued at $1,407,000 after purchasing an additional 12,499 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in Citigroup in the fourth quarter valued at approximately $10,400,000. U.S. Capital Wealth Advisors LLC increased its position in shares of Citigroup by 3.9% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 17,087 shares of the company's stock valued at $1,203,000 after buying an additional 649 shares in the last quarter. Optas LLC raised its stake in shares of Citigroup by 27.3% during the 4th quarter. Optas LLC now owns 4,286 shares of the company's stock worth $302,000 after buying an additional 920 shares during the period. Finally, Calamos Wealth Management LLC lifted its position in shares of Citigroup by 17.8% during the 4th quarter. Calamos Wealth Management LLC now owns 4,072 shares of the company's stock valued at $287,000 after buying an additional 614 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company's stock.

Insider Buying and Selling

In other Citigroup news, Director John Cunningham Dugan sold 4,417 shares of the company's stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $68.26, for a total transaction of $301,504.42. Following the transaction, the director now directly owns 13,048 shares in the company, valued at $890,656.48. This represents a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on C shares. Piper Sandler reissued an "overweight" rating and issued a $77.00 price target (down previously from $83.00) on shares of Citigroup in a report on Wednesday, April 16th. Morgan Stanley cut their target price on shares of Citigroup from $110.00 to $109.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Truist Financial decreased their price target on shares of Citigroup from $84.00 to $79.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Bank of America cut their price objective on Citigroup from $90.00 to $89.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Finally, Evercore ISI reduced their target price on Citigroup from $79.00 to $76.00 and set an "in-line" rating for the company in a report on Tuesday, April 1st. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $83.97.

Citigroup Trading Up 2.2%

Citigroup stock traded up $1.65 during midday trading on Friday, hitting $78.32. 11,514,514 shares of the stock were exchanged, compared to its average volume of 14,550,629. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.50. The stock's 50-day simple moving average is $69.27 and its 200 day simple moving average is $72.66. Citigroup Inc. has a fifty-two week low of $53.51 and a fifty-two week high of $84.74. The stock has a market capitalization of $146.28 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 0.64 and a beta of 1.33.

Citigroup (NYSE:C - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.84 by $0.12. Citigroup had a net margin of 7.43% and a return on equity of 6.62%. The business had revenue of $21.60 billion during the quarter, compared to the consensus estimate of $21.34 billion. On average, equities analysts anticipate that Citigroup Inc. will post 7.53 EPS for the current year.

Citigroup Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend was Monday, May 5th. Citigroup's dividend payout ratio is presently 35.39%.

About Citigroup

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.